Glencore weighs Australia listing after Rio Tinto talks collapse – media report
Glencore is open to considering listing in Australia, if it proves beneficial to the company, the Australian Financial Review reported on Monday, following the collapse of merger talks with Rio Tinto.
A secondary ASX listing could attract more investors and "give investors another option other than Rio and BHP," the report quoted CEO Gary Nagle saying.
The company would need to engage with shareholders and seek advice before proceeding with any listing, Nagle told the newspaper.
Glencore declined to provide further comment on the report.
Rio walked away from takeover talks with Glencore in February, ending months of negotiations on a tie‑up that would have created the world’s largest mining group.
Glencore concluded that the proposed terms undervalued its copper business and future growth pipeline, while Rio said the deal would not deliver sufficient value to its shareholders.
Glencore last August decided against shifting its primary listing from London to the US, opting to stay in the UK after assessing the "material friction" costs involved.
The miner, which already has a secondary listing in Johannesburg, delisted from Hong Kong in 2018.
